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Leeds postal bond pays 4.30%

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by David Masters

Leeds Building Society has launched a new three-year fixed-rate postal bond paying interest at 4.30%.

Customers requiring a regular income from their savings can opt to have interest paid monthly at 4.11% AER.

Savers investing in the bond can access up to 10% of the initial amount invested without notice, penalty free.

A minimum investment of £1,000 is required to open the bond.

Kim Rebecchi, LBS director of sales and marketing, pointed out that the rate paid by the bond is more than eight times the current Bank of England base rate.

The high rate, combined with flexible access to funds, makes the bond a “very attractive” option, Rebecchi claimed.

“This product would compliment any investment portfolio,” she added.

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News posted: August 17, 2009

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